2010/05/18 News Update

Euro sinks to four year low as Europe debt crisis cause investors to pull more money from stocks, preferring gold and Asian bonds instead.

US closed +5.67 to 10,625.83 on 17/5/2010

Crude oil +0.48 to USD70.56 per barrel

US bond sales revive as Europe contagion concern recades: credit markets/ Bloomberg

Japanese stocks climb as Yen weakens; inpex falls on lower crude oil price/ Bloomberg

Samsung may become 'uncatchable' with $15.6bil capital spending plan/ Bloomberg

Asia should consider using capital controls to limit inflows, ADB advises/ Bloomberg

Japanese demand for services slipped 3% in March, second month of decline/ Bloomberg

US stocks gain as Euro rebounds from four year low; oil retreats/ Bloomberg

MISC buys stake in VTTI for US$735m/ the star

- move in line with shipping firms's strategy to grow tank terminal business

Credit Suisse says HLB's offer price for EON Cap too low

Alliance identifies Sng as its new CEO

Compensation noost for MAS

- Its Q1 net profit of RM310m due to delay in A380 delivery

MAHB net profit dragged down by FRS139

Shanghai, Shenzen lead fall in Asian markets

- investors resumed selling on risky bets that included emerging market equities and commodities amid growing fears that the sovereign debt crisis in Europe would derail global economic growth

Forex swings to hit exporters

- Firms are more exposed to fluctuations in US dollar than to Euro or Pound

- the Euro and Pound are expected to remain weak in the near term

No impact from Thai turmoil

- but Malaysian companies will be affected if the situation worsens, says FMM

Analysts positive on F&N glass divestment plan

Adamus takeover bid for M3nergy at RM1.85 per share

April vehicle sales up

- buyers rushed to take delivery before interest rates hike

Asia urged to be more assertive in global economy

Reject unfair offer by Lonbisco, TPC shareholders advised

Talks still on for sale of RBS assets

- No target date for proposed disposal to materialise, announcement in due course

Xinquan Q3 net profit up 46%

made a net profit of RM32.7mil

Salcon clinches RM84.21mil project

- from Pengurusan Aset Air Bhd for alternative water supply to the KL International Airport

Prudential launches US$21bil cash call

- move to woo shareholders' backing for its AIA acquisition

Big bargains from Europe/ the star

- the Euro's fall made eurozone assets attractive and boosted exports